Author: Admin

Gas Sector Circular Debt Hits Rs2.897 Trillion, Senate Panel Informed

Admin
Gas-Prices

ISLAMABAD: The Senate Committee on Petroleum was informed on Tuesday that the circular debt in the gas sector has surged by Rs1,700 billion over the past decade, now totaling Rs2,897 billion. During a meeting chaired by Senator Umar Farooq at the Parliament House, petroleum officials attributed the debt escalation to the failure to increase gas tariffs from 2013 to 2023. They noted that the debt’s growth has halted following a triple hike in gas prices. The committee was informed of an annual Rs800 billion gap between the official purchase and…

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Sharif Orders Comprehensive Plan for Low-Cost Electricity for Industry

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Sharif-Orders

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Ministry of Power to develop a comprehensive plan to reduce electricity costs for industries, aiming to boost the country’s exports. During a meeting of the National Export Development Board (NEDB) on Tuesday, the Prime Minister noted that domestic exports exceeded USD 30 billion last fiscal year, with IT exports surpassing USD 3.2 billion. He emphasized the need to address exporters’ issues promptly and requested a report within two weeks. He also announced his intention to chair NEDB meetings every one and a…

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Government Aims to Reduce Return on Equity for Public Sector Power Projects

Admin
Power-generation

ISLAMABAD: The federal government is considering reducing the Return on Equity (RoE) for public sector power projects, including hydro and nuclear plants, while encouraging Independent Power Producers (IPPs) to adopt similar measures, informed sources told Business Recorder. This initiative emerged amidst pressure from the business community, notably from former Minister for Commerce Gohar Ijaz, who reportedly debated the issue with the current Minister for Power, Sardar Awais Leghari. Nationwide, the business community is rallying against the high rates of return and exorbitant capacity payments made to power plants. In response,…

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NEECA Unveils Energy Conservation Building Code (ECBC) 2023 in Islamabad

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NEECA-Project

Islamabad – The National Energy Efficiency and Conservation Authority (NEECA), in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, has launched the Energy Conservation Building Code (ECBC) 2023 in Islamabad. In his keynote address, NEECA’s Managing Director described the ECBC 2023 as a transformative framework set to revolutionize building practices nationwide. He emphasized that this building code is not merely a document but a vigorous, actionable plan aimed at significantly reducing energy consumption and generating substantial cost savings for building owners and occupants. Wolfgang Hesse, Cluster Coordinator from GIZ…

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Urgent Measures Needed to Address Karachi’s Environmental Crisis: Dost Muhammad Rahimoon

Admin
Minister-Metting

Karachi – Karachi faces an urgent environmental crisis, with issues such as pollution, deforestation, and illegal encroachments worsening daily. In response, a delegation from the National Forum for Environment and Health (NFEH) met with Minister for Environment, Climate Change, and Coastal Development, Dost Muhammad Rahimoon, to discuss these critical challenges and propose solutions. The NFEH delegation, led by President M. Naeem Qureshi, Vice President Engr. Nadeem Ashraf, and Information Secretary Mustafa Tahir, emphasized the need for a coordinated effort to tackle environmental degradation in Karachi. “Every individual must play their…

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